Oxy takes pride in applying its expertise and experience to help meet the world's energy needs and fuel economic growth. Balancing near-term profitability with long-term growth, we continually pursue new opportunities in the United States, Middle East/North Africa and Latin America to deliver results and enhance value for Oxy, our partners and our stockholders.
Oxy is the No. 1 oil producer in Texas and New Mexico and the No. 1 natural gas producer and third-largest oil producer in California, and we have a higher percentage of proved oil and natural gas reserves in North American assets – 70 percent – than any of our largest competitors. Our long-term strategy is to ensure that Oxy’s U.S. production continues to provide more than 50 percent of our worldwide total. Oxy is the second-largest oil producer in Oman and offshore Qatar and a partner in the giant Dolphin natural gas project.
Oxy's strong financial performance reflects our disciplined business strategy, focus on operational excellence and ability to work effectively in highly diverse cultural environments. Our dedicated and talented work force is a key component of the company's success. We are committed to using advanced technology to produce more oil and natural gas while being a responsible steward of the environment. And we're determined to continue exceeding expectations – in every facet of Oxy's business.
Dr. Ray R. Irani
Chairman and Chief Executive Officer